Sergio Padilla
Private debt occupies a good position to capitalise on opportunities, but faces increased competition.
Sponsor-backed companies' share of overall defaults surged to the highest ever, while Fitch found LMEs and distress depressed recovery numbers.
Pockets of distress in the consumer sector may result in restructurings in 2025.
Aspida, which also sells annuities, has grown to $19bn in assets with support from Ares.
The instrument sets a high bar for mid-market CLO closings in 2025.
The fund closed well above its $1.25bn target and is twice as large as its predecessor.
An expanded private debt platform is considered in the asset management unit’s quest for $1trn in AUM.
Credit Opportunities Fund III is Carlyle’s largest-ever credit fundraise, with ‘robust appetite’ for the strategy.
The Abu Dhabi sovereign wealth fund will expand its reach into fund finance and open itself to external shareholders.
Report by Davidson Kempner finds that although PIK and liability management exercises abound, the need for deleveraging may make itself apparent.